Regulatory Alerts2012-10-17
Added · Updated
BRPD Circular Letter No. 11: Policy on Issuing License and Renewal of Firearms for Banks
The document establishes a comprehensive policy for the issuance and renewal of firearms licenses for scheduled banks and approved financial institutions in Bangladesh, categorizing branches into three tiers based on cash reserve limits to determine the maximum number of permitted firearms. It mandates that licenses be issued by the District Magistrate, requires one gun and one gunman per armored vehicle, and imposes strict conditions including the purchase of firearms within five years of licensing to avoid automatic cancellation. The policy further details application procedures, security requirements for new branches, and the obligation to maintain trained personnel and valid permits for all armed staff.
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